‘CLARITY Act’ Hearing: Bullish Representative Warns of Liquidity Outflow in the Absence of Legislation, U.S. Risks Losing to China in Competition

Foresight News reports that during today's ‘CLARITY Act’ in-person hearing in New York, Bullish's Head of Clearing and Group Risk, Randi Abernethy, responded to lawmakers' questions by stating that if the ‘CLARITY Act’ fails to advance, a significant amount of liquidity will flow overseas. As a result, the U.S. will miss out on opportunities for capital accumulation, technological development, and innovation. She emphasized that from the perspective of exchanges, advancing legislation would mean liquidity returning to the U.S., and this liquidity influx would drive more capital investment and technological innovation, helping the U.S. maintain its competitive edge against China and other countries.